10-25-2017 (WEDC) Minutes mutes
Wylie Economic Development Corporation
Board of Directors Meeting
Wednesday, October 25, 2017—6:30 A.M.
WEDC Offices—Conference Room
250 South Highway 78—Wylie, Texas
CALL TO 0 ' I ER
Announce the presence of a Quorum
President Marvin Fuller called the meeting to order at 6:32 a.m. Board Members present were
John Yeager, Todd Wintters, and Bryan Brokaw.
Ex-officio members Mayor Eric Hogue and City Manager Mindy Manson were present.
WEDC staff present was Executive Director Sam Satterwhite, Assistant Director Jason Greiner
and Senior Assistant Angel Wygant.
CITIZEN PARTICIPATION
With no further citizen participation, President Fuller proceeded to Action Items.
ACTION ITEMS
ITEM NO. 1—Consider and act upon approval of the October 10,2017 Minutes of the Wylie
Economic Development Corporation (WEDC) Board of Directors Meeting.
MOTION: A motion was made by Todd Wintters and seconded by
John Yeager to approve the October 10,2017 Minutes of the Wylie Economic
Development Corporation. The WEDC Board voted 4 — FOR and 0 —
AGAINST in favor of the motion.
ITEM NO. 2 — Consider and act upon approval of the September 2017 WEDC Treasurers
Report.
Staff reviewed key items within the Treasurer's Report and called the Board's attention to a
duplicate expense ($60,915.35) booking within Incentives. This expense was not paid twice but
was recorded twice and is being corrected by Finance. The Treasurer's Report memo reflects the
correct total expense. Staff recommended that the Board approve the September 2017 Treasurer's
Report subject to the correction within Incentives.
MOTION: A motion was made by John Yeager and seconded by
Todd Wintters to approve the September 2017 Treasurers Report, subject to
the correction by the Finance Department, for the Wylie Economic
Development Corporation. The WEDC Board voted 4 — FOR and 0 —
AGAINST in favor of the motion.
Mr. Demond Dawkins arrived at 6:40 a.m.
WEDC—Minutes
October 25, 2017
Page 2 of 3
ITEM NO.3—Consider and act upon a Performance Agreement between WEDC and DANK
Real Estate, Ltd.
DANK Real Estate (dba Deanan Gourmet Popcorn) currently owns and operates out of a 10,437
square foot facility located at 216 Windco Circle in Wylie. Staff reminded the Board that DANK
purchased the original 5,000 square foot facility in 2011 and expanded that facility (with WEDC
assistance)to its current size in 2014. DANK has been evaluating options for an additional 10,140
sf expansion at one of its current Texas facilities (Wylie vs. San Antonio).
Staff proposed an $83,000 incentive over a 4-year period for the expansion of the Wylie facility.
Performance criteria includes construction of an additional 10,140 square feet at a minimum cost
of $1,500,000 at the current facility on Windco Circle, addition of 8 full-time employees,
continuous operation of the facility, and being current on all property taxes.
MOTION: A motion was made by Bryan Brokaw and seconded by John Yeager to
approve a Performance Agreement between the WEDC and DANK Real
Estate, Ltd. The WEDC Board voted 5 —FOR and 0—AGAINST in favor of
the motion.
DISCUSSION ITEMS
ITEM NO. 4 — Review and discuss WEDC By-Laws to determine the need for potential
amendments.
On 9-20-17,the Board directed staff to place the WEDC By-laws on a future agenda for review in
order to begin the process of evaluating the need for further amendments. WEDC Counsel,Ryan
Pittman, completed a preliminary review which was distributed to the Board. The Board agreed
that since the By-Laws were last amended in 1999,it would be a good exercise to conduct a review
of the current By-Laws to determine if any changes might be needed. Staff was asked to research
the current applicable laws for Economic Development Corporations so that the Board could
discuss this task during future Meeting/Work Session. John Yeager also called the Board's
attention to Section XIII, 13.01 INDEMNITY and raised the concern that the language including
"negligence"was overly broad and should be amended.
Staff agreed to conduct additional research on current laws applicable to Economic Development
Corporations, and place this item on a future agenda.
ITEM NO. 5 - Staff report: Staff reviewed issues surrounding WEDC Performance Agreement
Summary, Environmental Activity Summary, Highway 78 WEDC Pad Sites, 544 Gateway
Property, KREA Acquisitions, LLC (La Quinta), WEDC Brokerage event, Oktoberfest and
regional housing starts.
No action was requested by staff for this item.
WEDC—Minutes
October 25, 2017
Page 3 of 3
ITEM NO. 6 —Discussion of issues to be placed on a future WEDC Board Meeting agenda (no
substantial consideration/discussion allowed).
No Board Members requested that an item be placed on future agendas.
E 1 CUTIVE SESSION
Recessed into Closed Session at 7:56 a.m. in compliance with Section 551.001, et.seq. Texas
Government Code, to wit:
Section 551.072 (Real Estate) of the Local Government Code, Vernon's Texas Code Annotated
(Open Meetings Act). Consider the sale or acquisition of properties located near the intersection
of:
• Cooper& Highway 78
• Brown &Highway 78
• Brown &Ballard
• Alanis & Sanden
Section 551.087(Economic Development) of the Local Government Code, Vernon's Texas Code
Annotated (Open Meetings Act). Deliberation regarding commercial or financial information that
the WEDC has received from a business prospect and to discuss the offer of incentives for:
• Project 2015-12a
• Project 2017-2a
• Project 2017-6a
• Project 2017-8a
• Project 2017-10a
CONVENE INTO OPEN MEETING
The WEDC Board of Directors reconvened into open session at 9:11 a.m. and took no action
I JOU" NT
With no further business, President Fuller adjourned the WEDC Board meeting at 9:11 a.m.
Marvin Fuller, President
ATTEST:
Samuel Satterwhite, Director